During the discussion, a housing specialist explained that the change was designed to address situations where borrowers, often facing financial hardships like foreclosures or medical emergencies, might find it distressing to discuss their circumstances publicly. The new policy allows for the loan forgiveness process to be handled internally, with the Executive Director making decisions based on detailed documentation provided by the borrowers. This approach is meant to streamline decision-making for the Authority’s extensive loan portfolio, which includes many loans nearing their 30-year terms.

Board members expressed support for the policy, noting that it would prevent potentially traumatizing public disclosures of borrowers’ personal financial situations. They emphasized the need for transparency by requesting an annual report summarizing loan forgiveness activities without revealing personal details. This would ensure the board remains informed about the implementation of the policy.

In other discussions, the authority addressed the ongoing administration of Community Development Block Grant (CDBG) funds. It was confirmed that the current process would continue through 2025, allowing time for a comprehensive evaluation of housing programs. This evaluation aims to identify potential replacements or alternative funding opportunities by 2026.